Who should monitor retirement savings?

The Millennium Trust Small Business Retirement Survey found that 93% of small business employers and 95% of employees agree that Americans will not have enough money saved to maintain their lifestyle in retirement. But if the government requires people to save for retirement, who should have oversight? According to the survey, 42% said it should be administered by a private company, 31% were comfortable with state governments, but only 21% preferred the federal government to step in.